Wix Announces Completion of $200 Million Share Repurchase Program

Rhea-AI Summary

Wix (NASDAQ: WIX) has announced the completion of its $200 million share repurchase program that was authorized by its Board of Directors in July 2024. The company has repurchased 868,026 ordinary shares, which represents approximately 1.5% of total outstanding shares. The repurchase was executed at a volume-weighted average price of $230.41 per share.

Positive

• Completed $200 million share buyback program, reducing share count by 1.5%
• Strong average repurchase price of $230.41 demonstrates company's confidence in stock value
• Share reduction potentially increases earnings per share for remaining shareholders

Negative

• Significant cash outlay of $200 million reduces company's available liquidity

News Market Reaction

-1.33%

1 alert

-1.33% News Effect

On the day this news was published, WIX declined 1.33%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

NEW YORK – – Wix.com Ltd. (NASDAQ: WIX), today announced that it has completed $200 million in share repurchases, which were part of the authorization by its Board of Directors approved in July 2024.

The Company repurchased 868,026 outstanding Wix ordinary shares, representing approximately 1.5% of total shares outstanding, at an approximate volume-weighted average price per share of $230.41.

About Wix.com Ltd.

Wix is the leading SaaS website builder platform¹ to create, manage and grow a digital presence. Founded in 2006, Wix is a comprehensive platform providing users - self-creators, agencies, enterprises, and more - with industry-leading performance, security, AI capabilities and a reliable infrastructure. Offering a wide range of commerce and business solutions, advanced SEO and marketing tools, the platform enables users to take full ownership of their brand, their data and their relationships with their customers. With a focus on continuous innovation and delivery of new features and products, users can seamlessly build a powerful and high-end digital presence for themselves or their clients. 

For more about Wix, please visit our Press Room
Investor Relations Contact: IR@wix.com
Media Relations Contact:  PR@wix.com  

¹ Based on number of active live sites as reported by competitors' figures, independent third-party data and internal data as of H1 2024.

FAQ

How many shares did Wix repurchase in its 2024 buyback program?

Wix repurchased 868,026 ordinary shares, representing approximately 1.5% of total outstanding shares.

What was the average price per share in Wix's 2024 buyback program?

The volume-weighted average price per share in Wix's buyback program was $230.41.

When did Wix's Board approve the $200 million share repurchase program?

Wix's Board of Directors approved the $200 million share repurchase program in July 2024.

What percentage of outstanding shares did Wix's 2024 buyback program represent?

The share repurchase program represented approximately 1.5% of Wix's total outstanding shares.